So, the final monthly payment for a loan, without regarding tax and other fees, is MonthlyPayment=LoanAmount*APR/(1-1/(1+APR)^YearsOfLoan)/12:
2005/08/31
The secret of loan
Recent, I was interested in the calculation of mortgage loan and car loan. Basically, the bank will give you an annual percent rate for the loan amount and years of the loan. And with a calculation program, they will figure out the monthly payment. But, here, the bankers make a tiny assumption, which is flaw for the rigorous arithmatic, but is ok for our common sense. This tiny assumption is that the monthly rate is one twelveth of annual rate:A=12M, rather than the calculated by the complicated formula: 1+A=(1+M)^12. This tiny difference makes $7,000 difference for a 30 year loan of $300,000 with 5% apr, which is about 1% of total payment. But, anyway, we have no choice, since every banker do the samething.
So, the final monthly payment for a loan, without regarding tax and other fees, is MonthlyPayment=LoanAmount*APR/(1-1/(1+APR)^YearsOfLoan)/12:
So, the final monthly payment for a loan, without regarding tax and other fees, is MonthlyPayment=LoanAmount*APR/(1-1/(1+APR)^YearsOfLoan)/12:
Subscribe to:
Post Comments (Atom)
90 comments:
your alligator boat tug blog is great thanks
Nice blog post! Thanks for intesting info!
more idea about payday loan way to payday loan
Great article! Thanks.
Thanks for interesting article.
Nice! Nice site! Good resources here. I will bookmark!
I see first time your site guys. I like you :)
Excellent website. Good work. Very useful. I will bookmark!
pj9MKM You have a talant! Write more!
6jFKcf Thanks to author.
yv8lPg The best blog you have!
huGDDk Hello all!
Hello all!
actually, that's brilliant. Thank you. I'm going to pass that on to a couple of people.
Wonderful blog.
Good job!
Please write anything else!
Please write anything else!
Good job!
Good job!
UNoYS3 write more, thanks.
Nice Article.
Thanks to author.
actually, that's brilliant. Thank you. I'm going to pass that on to a couple of people.
Thanks to author.
Please write anything else!
Hello all!
Please write anything else!
Good job!
Hello all!
Good job!
Please write anything else!
Wonderful blog.
What is a free gift ? Aren't all gifts free?
Build a watch in 179 easy steps - by C. Forsberg.
Friends help you move. Real friends help you move bodies.
I'm not a complete idiot, some parts are missing!
Good job!
What is a free gift ? Aren't all gifts free?
Hello all!
Change is inevitable, except from a vending machine.
Please write anything else!
Suicidal twin kills sister by mistake!
Thanks to author.
Give me ambiguity or give me something else.
Energizer Bunny Arrested! Charged with battery.
actually, that's brilliant. Thank you. I'm going to pass that on to a couple of people.
Friends help you move. Real friends help you move bodies.
Ever notice how fast Windows runs? Neither did I.
Build a watch in 179 easy steps - by C. Forsberg.
Thanks to author.
Wonderful blog.
If ignorance is bliss, you must be orgasmic.
Oops. My brain just hit a bad sector.
What is a free gift ? Aren't all gifts free?
When there's a will, I want to be in it.
Friends help you move. Real friends help you move bodies.
Change is inevitable, except from a vending machine.
Hello all!
Beam me aboard, Scotty..... Sure. Will a 2x10 do?
A lot of people mistake a short memory for a clear conscience.
Suicidal twin kills sister by mistake!
Oops. My brain just hit a bad sector.
Nice Article.
Thanks to author.
Clap on! , Clap off! clap@#&$NO CARRIER
Save the whales, collect the whole set
What is a free gift ? Aren't all gifts free?
All generalizations are false, including this one.
Suicidal twin kills sister by mistake!
640K ought to be enough for anybody. - Bill Gates 81
All generalizations are false, including this one.
Build a watch in 179 easy steps - by C. Forsberg.
Please write anything else!
Suicidal twin kills sister by mistake!
Build a watch in 179 easy steps - by C. Forsberg.
Nice Article.
The gene pool could use a little chlorine.
640K ought to be enough for anybody. - Bill Gates 81
When there's a will, I want to be in it.
Energizer Bunny Arrested! Charged with battery.
The gene pool could use a little chlorine.
What is a free gift ? Aren't all gifts free?
Please write anything else!
Good job!
black mold exposure,
black mold symptoms of exposure,
wrought iron garden gates,
your nest iron garden gates, here,
hair styles for fine thin hair,
search hair styles for fine thin hair,
night vision binoculars,
buy, night vision binoculars,
lipitor reactions,
lipitor reactions,
luxury beach resort in the philippines,
beach resort in the philippines,
homeopathy for baby eczema.,
homeopathy for baby eczema.,
save big with great mineral makeup bargains,
companies marketing mineral makeups,
prodam iphone praha,
Apple prodam iphone praha,
Good day !.
might , perhaps very interested to know how one can reach 2000 per day of income .
There is no initial capital needed You may begin to get income with as small sum of money as 20-100 dollars.
AimTrust is what you need
The firm incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.
Its head office is in Panama with offices everywhere: In USA, Canada, Cyprus.
Do you want to become a happy investor?
That`s your chance That`s what you desire!
I`m happy and lucky, I began to take up real money with the help of this company,
and I invite you to do the same. It`s all about how to choose a correct companion utilizes your savings in a right way - that`s it!.
I take now up to 2G every day, and my first investment was 500 dollars only!
It`s easy to join , just click this link http://xuberile.fcpages.com/jycaqy.html
and lucky you`re! Let`s take our chance together to get rid of nastiness of the life
Good day !.
You re, I guess , perhaps curious to know how one can reach 2000 per day of income .
There is no need to invest much at first. You may begin earning with as small sum of money as 20-100 dollars.
AimTrust is what you haven`t ever dreamt of such a chance to become rich
The company incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.
Its head office is in Panama with offices around the world.
Do you want to become really rich in short time?
That`s your choice That`s what you desire!
I feel good, I started to get real money with the help of this company,
and I invite you to do the same. If it gets down to choose a correct partner who uses your money in a right way - that`s it!.
I take now up to 2G every day, and my first investment was 500 dollars only!
It`s easy to join , just click this link http://bepyrymow.mindnmagick.com/romulizy.html
and go! Let`s take this option together to get rid of nastiness of the life
Hello everyone!
I would like to burn a theme at this forum. There is such a nicey, called HYIP, or High Yield Investment Program. It reminds of ponzy-like structure, but in rare cases one may happen to meet a company that really pays up to 2% daily not on invested money, but from real profits.
For several years , I earn money with the help of these programs.
I don't have problems with money now, but there are heights that must be conquered . I make 2G daily, and my first investment was 500 dollars only.
Right now, I'm very close at catching at last a guaranteed variant to make a sharp rise . Turn to my web site to get additional info.
http://theblogmoney.com
Hello!
You may probably be very interested to know how one can manage to receive high yields on investments.
There is no need to invest much at first.
You may commense to get income with a money that usually goes
for daily food, that's 20-100 dollars.
I have been participating in one company's work for several years,
and I'm ready to share my secrets at my blog.
Please visit blog and send me private message to get the info.
P.S. I earn 1000-2000 per daily now.
[url=http://theinvestblog.com] Online investment blog[/url]
Post a Comment